Apogee Therapeutics Inc. (NASDAQ:APGE) Given Average Recommendation of “Moderate Buy” by Analysts

Apogee Therapeutics Inc. (NASDAQ:APGE) has been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $98.8889.

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft began coverage on Apogee Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $103.00 price target for the company. Bank of America boosted their target price on Apogee Therapeutics from $78.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on shares of Apogee Therapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Finally, BTIG Research restated a “buy” rating and issued a $115.00 price objective on shares of Apogee Therapeutics in a research note on Thursday, October 9th.

Insiders Place Their Bets

In related news, CEO Michael Thomas Henderson sold 40,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,000,400.00. Following the completion of the transaction, the chief executive officer owned 1,232,987 shares of the company’s stock, valued at approximately $92,486,354.87. The trade was a 3.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 10,900 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $75.00, for a total value of $817,500.00. Following the sale, the insider owned 271,108 shares of the company’s stock, valued at approximately $20,333,100. The trade was a 3.87% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 106,795 shares of company stock valued at $7,383,008. Company insiders own 42.77% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Octagon Capital Advisors LP acquired a new position in Apogee Therapeutics during the 1st quarter valued at $399,752,000. Wellington Management Group LLP increased its holdings in shares of Apogee Therapeutics by 21.4% during the 1st quarter. Wellington Management Group LLP now owns 5,485,754 shares of the company’s stock worth $204,948,000 after purchasing an additional 968,391 shares during the period. UBS Group AG raised its position in shares of Apogee Therapeutics by 646.1% during the third quarter. UBS Group AG now owns 799,465 shares of the company’s stock valued at $31,763,000 after buying an additional 692,308 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Apogee Therapeutics by 77.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock valued at $56,045,000 after buying an additional 563,464 shares during the period. Finally, Paradigm Biocapital Advisors LP grew its position in Apogee Therapeutics by 58.7% during the third quarter. Paradigm Biocapital Advisors LP now owns 1,521,757 shares of the company’s stock worth $60,459,000 after buying an additional 563,127 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Apogee Therapeutics Stock Up 0.7%

APGE stock opened at $77.08 on Monday. The firm has a 50 day moving average of $61.23 and a two-hundred day moving average of $46.69. Apogee Therapeutics has a 12 month low of $26.20 and a 12 month high of $78.12. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of -17.60 and a beta of 1.41.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings data on Monday, November 10th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.03. On average, research analysts expect that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

Apogee Therapeutics Company Profile

Apogee Therapeutics, Inc, through its subsidiary, operates as a biotechnology company that develops biologics for the treatment of atopic dermatitis (AD), asthma, chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications. The company primarily develops APG777, a subcutaneous (SQ) extended half-life monoclonal antibody (mAb) for AD; and APG808, an SQ extended half-life mAb for COPD.